JP Morgan borrowed $240bn in fed funds and repo markets in Q3

Average quarterly balance was 30% up year-on-year

Over a third quarter characterised by dramatic swings in overnight repo rates, JP Morgan tapped money markets for $239.7 billion, up 30% on a year ago.

The average cost of the federal funds purchased and repo conducted by the bank for Q3 was 2.05%, down from 2.16% in Q2 but up from 1.78% the same quarter a year ago.

Fed funds loaned and reverse repo agreements averaged $276.7 billion, down 4.18% on the quarter but up 32.76% on the year. The average yield on these loans was 2.21% for Q3

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